BFF crowdfunding legit or scam Review

BFF Crowdfunding Review: Unveiling the Dubious World of a 400% ROI Ponzi Cycler

In the enigmatic realm of online investment opportunities, BFF Crowdfunding, also known as BFF Global Network, presents a peculiar case.

This review aims to shed light on the unsettling aspects of this venture, including its lack of transparency regarding ownership and leadership.

One of the immediate red flags when exploring BFF Crowdfunding’s website is the absence of any ownership or executive information.

As of the time of this writing, the homepage of BFF Crowdfunding merely displays an affiliate login form, leaving visitors in the dark about the people behind the operation.

The Operational Details

BFF Crowdfunding operates under the domain name “bffcrowdfunding.com,” which was privately registered on June 11th, 2023.

This anonymity raises questions about the legitimacy and accountability of the platform.

Delving deeper into the matter, our research uncovered a Facebook group associated with BFF Crowdfunding called “BFF Global Network,” with Mike Taylor as its sole admin.

Mr. Taylor identifies himself as the owner and CEO of BFF Global Network on his personal Facebook page. He also presents himself as a “forex trader, online marketer, coach, and mentor” on YouTube.

Before launching BFF Crowdfunding approximately three months ago, Mike Taylor was involved in promoting projects like “Gobe Tradehouse” and “GOBE Copycat.”

These promotions promised to turn a $100 investment into $9500, but their popularity seems to have dwindled, with just around 3500 visits to Gobe Tradehouse’s website in August 2023.

Taylor’s track record includes affiliations with Tradera (which collapsed) and Forsage (a cash gifting Ponzi scheme whose owners faced legal action).

BFF Crowdfunding

BFF Crowdfunding’s Product Offering

One striking feature of BFF Crowdfunding is the absence of any tangible products or services for affiliates to market.

Instead, affiliates are primarily encouraged to recruit new members into the BFF Crowdfunding affiliate program itself.

Additionally, BFF Crowdfunding provides an “affiliate marketing course” and a “credit repair training course” bundled with its membership.

BFF Crowdfunding’s compensation plan revolves around affiliates investing funds into a cycler with the promise of a staggering 400% return on investment (ROI).

There are three investment tiers: $125, $250, and $500. The ROI is paid out through a 2×3 matrix cycler.

In this matrix, affiliates are positioned at the top, with two positions directly below them, creating the first level.

Subsequently, these positions are further divided into two each, forming the second level.

The third level follows the same pattern, comprising eight positions.

 

Investors receive their promised ROI as the eight positions in the bottom level of each 2×3 matrix get filled. The payouts vary based on the tier:

– $125 investment tier pays $62.50 per third-level matrix filled.

– $250 investment tier pays $125 per third-level matrix filled.

– $500 investment tier pays $250 per third-level matrix filled and generates a new $500 tier cycler position.

The Referral Commissions

BFF Crowdfunding affiliates earn referral commissions for recruiting new members:

– Recruiting a $125 investment tier affiliate yields a $50 commission.

– Recruiting a $250 investment tier affiliate results in a $100 commission.

– Recruiting a $500 investment tier affiliate garners a $200 commission.

To join BFF Crowdfunding’s affiliate program, individuals must make an initial investment of either $125, $250, or $500.

BFF Crowdfunding

It appears that BFF Crowdfunding is a continuation of Mike Taylor’s involvement in questionable ventures, reminiscent of his association with Forsage.

In a marketing video from September 30th, Taylor claimed that BFF Crowdfunding could help investors quadruple their small investments within a short period.

While similarities exist between BFF Crowdfunding and Forsage, such as the use of matrices and targeting primarily the US market, it’s worth noting that Forsage underwent multiple relaunches over two years and faced legal issues, including charges of running a $300 million Ponzi scheme.

The Traffic and Geographic Focus

SimilarWeb data shows that BFF Crowdfunding’s website received approximately 18,000 visits in August 2023, with 79% attributed to US visitors. This suggests a significant focus on US residents.

The Inevitable Collapse

The inherent flaw in Ponzi cyclers, such as BFF Crowdfunding, lies in their reliance on recruitment.

When recruitment slows down, matrices within the cycler stall, and an irreversible collapse becomes imminent.

It’s essential to recognize that in Ponzi cyclers, administrators often profit the most.

This occurs through preloaded admin positions, as well as an admin fee deducted each time an affiliate cycles.

Mike Taylor’s admin fee varies based on the investment tier but remains a concern for investors.

BFF Crowdfunding’s dubious nature, coupled with its reliance on recruitment and matrices, raises significant concerns.

While the SEC and DOJ’s involvement remains uncertain, a careful examination of this scheme’s dynamics reveals the inherent risks associated with such ventures.

As history has shown, Ponzi cyclers often lead to substantial losses for the majority of participants, making it imperative for potential investors to exercise caution and conduct thorough due diligence.

Should you invest in BFF CROWDFUNDING or it’s risky?

Investing in BFF Crowdfunding is not advisable. Several red flags and concerning elements have been identified in our detailed review:

1. Lack of Transparency

BFF Crowdfunding provides minimal information about its ownership and leadership, which raises questions about the platform’s legitimacy and accountability.

 

2. Dubious Business Model

BFF Crowdfunding’s business model primarily relies on recruitment and matrices, which is a characteristic feature of Ponzi schemes.

These schemes often result in financial losses for the majority of participants.

 

3. Unsubstantiated Promises

Promises of a 400% return on investment within a short timeframe are unrealistic and should be approached with caution. Such high returns are typically unsustainable and may indicate a Ponzi scheme.

4. Previous Associations

Mike Taylor, the figure behind BFF Crowdfunding, has a history of promoting ventures like Forsage and Gobe Tradehouse, which have faced legal issues and failed to deliver on their promises.

5. Lack of Tangible Products

BFF Crowdfunding lacks genuine retail products or services, and affiliates are primarily encouraged to recruit new members, a characteristic feature of pyramid schemes.

6. Regulatory Risks

The involvement of regulatory authorities like the SEC and DOJ in cases similar to Forsage raises concerns about the legal and financial risks associated with BFF Crowdfunding.

 

Given these significant concerns, it is advisable to exercise extreme caution and avoid investing in BFF Crowdfunding.

Always conduct thorough due diligence and seek legitimate investment opportunities with transparent business models and a proven track record of success.

What happens if you fall a victim of such a Ponzi scheme?

If you’ve fallen victim to a scheme like BFF Crowdfunding, it’s essential to take immediate action to mitigate your losses and seek potential remedies.

Here are steps you can consider:

 

1. Stop Investing

Cease any further investments or participation in the scheme to prevent additional losses.

 

2. Gather Documentation

Collect all relevant information and documentation related to your investments, including transaction records, communication with the company or affiliates, and any promotional materials.

 

3. Contact Authorities

Report the scheme to the appropriate authorities, such as your local law enforcement agency, the Federal Trade Commission (FTC), or the Securities and Exchange Commission (SEC) if applicable.

Provide them with all the details and evidence you have.

 

4. Contact Your Bank

If you made payments through a bank or credit card, contact your financial institution immediately.

Explain the situation and inquire about the possibility of reversing any payments or transactions.

 

5. Legal Advice

Consult with an attorney who specializes in financial fraud or securities law.

They can provide legal guidance and help you explore potential legal actions against those responsible for the scheme.

 

6. Notify Others

Warn friends and family about the scheme to prevent them from falling victim as well. Sharing your experience can help protect others.

 

7. Monitor Your Finances

Keep a close eye on your financial accounts for any suspicious activity. Change passwords and take additional security measures to safeguard your personal information.

 

8. Educate Yourself

Learn from the experience and educate yourself about investment scams and fraud prevention. Being informed can help you avoid similar situations in the future.

 

9. Stay Informed

Stay updated on any developments related to the scheme, including legal actions or regulatory interventions.

 

Remember that recovering funds from fraudulent schemes can be challenging, and there is no guarantee of a successful outcome.

Prevention is the best approach, so always be cautious and conduct thorough due diligence before investing in any opportunity. If it sounds too good to be true, it likely is.

Similar Ponzi schemes in same category that have existed before and scammed people.

Yes, there have been numerous similar cases and scams in the past that share characteristics with BFF Crowdfunding.

One prominent example is “BitConnect,” which operated as a cryptocurrency lending and exchange platform.

Here are some similarities and key points:

1. High Promised Returns

BitConnect promised exceptionally high returns to investors who lent their cryptocurrency on the platform, much like BFF Crowdfunding’s promise of a 400% ROI.

2. Lack of Transparency

BitConnect did not provide transparent information about its ownership and operations, similar to the lack of transparency seen in BFF Crowdfunding.

3. Recruitment and Pyramid-Like Structure.

Both BitConnect and BFF Crowdfunding relied heavily on recruitment, where participants were encouraged to bring in new investors.

This pyramid-like structure is a hallmark of Ponzi and pyramid schemes.

4. No Tangible Products

Neither BitConnect nor BFF Crowdfunding offered legitimate retail products or services.

Instead, their business models were primarily based on recruiting new members.

5. Regulatory Actions

BitConnect faced significant legal and regulatory actions, including cease and desist orders and lawsuits.

Ultimately, it collapsed, resulting in substantial financial losses for many investors.

6. Red Flags

Both BitConnect and BFF Crowdfunding exhibited numerous red flags, including unrealistic promises, lack of transparency, and unsustainable business models.

These examples highlight the importance of conducting thorough due diligence and being cautious when presented with investment opportunities that appear too good to be true.

Always research the legitimacy of any investment, seek advice from financial professionals, and be wary of schemes that rely heavily on recruitment and promise unrealistically high returns.

Researched and written by

Daniel Leinhardt


Editor at FraudWatchAi

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